Hi friends, I hope y'all had a fantastic weekend and are ready to finish this month strong ;)
Today, we have 2 possible sell trades on this baby. Last week I shared a trade idea on this instrument and we missed the trade, however, the price didn't reach our take profit point which that gave us another opportunity to catch the bearish trend. This trend is derived from the monthly that is in the huge bullish half a bats level 2 formation that will either bearish bounce off or break the 8 m.a that hasn't been retested for 4-5 months to confirm the trend-continuation. So we looking forward to taking a counter-trend trade, but there are 2 possible scenarios that will determine in getting the trades or not.
Bulls: -If the price forms a bullish reversal pattern that leads it to bullish break and retest the Daily H&S Neckline 2 together with the 50 and bullish short-term m.a's, that will dis-confirm both trades.
Bears: -If the price bullish bounces of the Weekly Neckline 3/Daily H&S Neckline 2, 50 and 8 m.a's with a bearish reversal candle or pattern close, that will either trigger what I call an "H&S A-E.3 SELL signal or H&S B-E.1 SELL signal". That's the first trade signal. For the second trade signal, after the price has trigger the first trade and proceeds to drop and break and retest the 1st Daily Ke Lvl, that will trigger what I call an "H&S B-E.2 SELL signal" that will lead to a 2 level drop to the last take profit point. That drop will form a big double top on the weekly, and it be visible on the monthly as a mini reversal pattern.
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thoughts!
Stay Blessed,
Doji-2k1.
Today, we have 2 possible sell trades on this baby. Last week I shared a trade idea on this instrument and we missed the trade, however, the price didn't reach our take profit point which that gave us another opportunity to catch the bearish trend. This trend is derived from the monthly that is in the huge bullish half a bats level 2 formation that will either bearish bounce off or break the 8 m.a that hasn't been retested for 4-5 months to confirm the trend-continuation. So we looking forward to taking a counter-trend trade, but there are 2 possible scenarios that will determine in getting the trades or not.
Bulls: -If the price forms a bullish reversal pattern that leads it to bullish break and retest the Daily H&S Neckline 2 together with the 50 and bullish short-term m.a's, that will dis-confirm both trades.
Bears: -If the price bullish bounces of the Weekly Neckline 3/Daily H&S Neckline 2, 50 and 8 m.a's with a bearish reversal candle or pattern close, that will either trigger what I call an "H&S A-E.3 SELL signal or H&S B-E.1 SELL signal". That's the first trade signal. For the second trade signal, after the price has trigger the first trade and proceeds to drop and break and retest the 1st Daily Ke Lvl, that will trigger what I call an "H&S B-E.2 SELL signal" that will lead to a 2 level drop to the last take profit point. That drop will form a big double top on the weekly, and it be visible on the monthly as a mini reversal pattern.
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thoughts!
Stay Blessed,
Doji-2k1.